Clearly the fine folks at Crowe weren't following SALY, as their batting average has improved slightly over their last report. And by slightly we mean they got it right half of the time in 2012, which is still better than Grant Thornton and BDO.
Still, it looks like AS 5 is to auditors as a straight line is to drunks, as Crowe racked up four dings out of its six total failures. The worst of Crowe's failures was Issuer C, coming up short on AS 13, AS 5 and AU 350:
All told, six out of twelve really isn't that bad, right?
Here is your running tally for 2012 inspection reports, leaving just McGladrey now as last inspection report (out)standing:
- Grant Thornton 65%
- BDO 55%
- Crowe Horwath 50%
- EY 48%
- PwC 39%
- KPMG 34%
- Deloitte 25%
2012 PCAOB Inspection of Crowe Horwath LLP
